[randita]

Some number of people are whining that Enron, Calpine, Duke and the boys 'gamed' the system. You bet your sweet butt they did -- which is the best possible argumenr for prohibiting incompetent hustlebuck shysters and Pollyanna do-gooders from even running for office or otherwise being employed by taxpayers.

I LOVE IT!

Conveniently Davis didn't comment on his own ISO's complicity in "gaming the system". The CA ISO was found to have called Enron and others getting them to put fake bids in on excess power they were selling, so that other companies who wanted to buy the power, then resell it, would have to pay the CA ISO more.

[heleny]

Davis didn't comment on his own ISO's complicity in "gaming the system".

For anyone who missed the Sac Bee article May 5th, here it is:
California: Surprise culprit in energy price rigging (the state itself!)

[SAJ]

You got it, brother. Nor has there been nearly enough made of the fact that Calbania paid more for power purchased within the borders of the state (and from British Columbia, but that's no surprise) than they ever did on normal day-to-day transactions with the power boys.

Adding insult to injury is today's Barron's, which contains an article on fuller transparancy for shareholders, written by none other than the Treasurer of...you guessed it...Calbania.

This bozo was in charge of the financing for one of the great economic fiascoes in American history, and NOW he's gonna tell us about better corporate/mutual fund governance? Puh-leeeeeeze. Not after a full meal, ok fella.